Press Releases

Statement: Multi-year Extension of Production and Investment Tax Credits

ST. PAUL, MINN. (December 16,
2015) - Yesterday, Congress signaled there is an agreement to extend the wind
energy Production Tax Credit (PTC) at its current 2.3 cents per kilowatt-hour
rate for two years with a three-year phased down until it expires in 2020.
Congress also extended the 30 percent solar Investment Tax Credit (ITC) and a
credit for solar-powered energy efficient properties for three years before
phasing it down the final two years.

Following this announcement,
Wind on the Wires Executive Director Beth Soholt said:

"Congress has done the
right thing by extending the Production Tax Credit for wind and the Investment
Tax Credit for solar. This extension gives these renewable energy industries
the certainty they need to plan for the future and mitigates the boom-bust
cycles that are so very detrimental.

"Since we have terrific
wind resources in this part of the country, the Midwest will most certainly be
a big beneficiary of the PTC. The ITC will help the emerging solar market
in the Midwest complete projects in the pipeline and plan for the future. Our
wind and solar developers are poised to take advantage of this policy certainty
and are ready to help states meet their Clean Power Plan goals. The
Midwest will also see enormous job creation and economic development from wind
and solar projects.

"As the 'wind
bread-basket,' our region can provide cost-effective wind energy that can be
exported to other parts of the country where resources are not as
abundant."

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About Wind on the WiresWind
on the Wires is a 501(c)(3) nonprofit organization based in St. Paul, Minn.,
which is comprised of wind and solar developers, environmental organizations,
tribal representatives, public interest groups, clean energy advocates, farm
groups and businesses providing goods and services to the renewable energy
industries.